11 - Credit Access Business Ordinance

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5.12.009 Expiration and Renewal of Certificate of Registration. (a) A certificate of registration expires on the earliest of - (1) f (1) One year after the date of issuance; or (2) The date of revocation, suspension, surrender, expiration without renewal, or other termination of the registrant's state license. (b) A certificate of registration may be renewed by making application in accordance with Section 5.12.006 by April 1St of each year. A registrant shall apply for renewal at least 30 days before the expiration of existing certificate of registration. 5.12.010 Non -transferability. A certificate of registration for a credit access business is not transferable. 5.12.011 Maintenance of Records. (a) A credit access business shall maintain a complete set of records of all extensions of consumer credit arranged or obtained by the credit access business, whether an original transaction or refinancing or renewal of an extension of consumer credit, which must include the following information: (1) The name and address of the consumer. (2) The principal amount of cash actually advanced. (3) The length of the extension of consumer credit, including the number of installments and renewals. (4) The fees charged by the credit access business to arrange or obtain an extension of consumer credit; and (5) The documentation used to establish a consumer's income under Section 5.12.012 of this ordinance. (b) A credit access business shall maintain a copy of each written agreement between the credit access business and a consumer evidencing an extension of a consumer credit (including, but not limited to, any refinancing or renewal granted to the consumer). (c) A credit access business shall maintain copies of all quarterly reports filed with the Texas Consumer Credit Commissioner under Section 393.627 of the Texas Finance Code.